Belgian Holdings of US Debt Have More Than Doubled Over The Past 12 Months

Foreign holdings of US debt hit another record in March according to the Treasury Department, as foreign entities boosted their holdings of US debt $59.3 billion to $5.9494 trillion.

One of the most notable pieces of information in today's report from the Treasury - Belgium continued to add aggressively to their holdings, as they purchased another $40.2 billion of US debt to bring their total holdings up to $381.4 billion.

As we've said before, this is almost certainly not the Belgian government that is snapping up all of this debt. Instead, it is likely either a nation that is using Belgium as a financial centre or an investor(s) using Euroclear, which is based in Brussels.

In any case, the spike is certainly interesting and raises the question - who is buying all of this US debt? Regardless of where it is being bought, some entity is buying all of this debt via Belgium.